05 July 2011 21:30 [Source: ICIS news]
HOUSTON (ICIS)--Importers are seeing mixed signals for prices and movements in the US epoxy resins market, they said on Tuesday.
Most importers agree that prices on imported material are about 4–8 cents/lb ($88–176/tonne, €61–121/tonne) higher than US material.
Some importers said prices are stable to rising slightly, while most said prices are starting to soften.
“The bloom is off the rose, and prices are softening a little bit,” an importer said, citing lower costs for feedstocks along the phenolics chain.
Another importer said that although feedstock costs have come down, they are not at low levels. As a result, epoxy resin producers are still looking to pass through costs.
“Feedstocks still rose enormously in May, and those increases have not been fully passed on," he said.
Recently, domestic buyers said they had mostly pushed back price increase nominations from major US producers, and expect domestic prices to fall, beginning at the end of July and the start of August.
Currently, standard liquid epoxy resin (LER) spot prices are assessed by ICIS at $1.84–1.89/lb DEL (delivered) in bulk, and at $1.88–1.95/lb DEL in drums, which represent prices for material imported into the US.
Major US producers of epoxy resins are Dow Chemical, Huntsman and Momentive Specialty Chemicals.
($1 = €0.69)
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